Official Code of Georgia Annotated
Title 11. COMMERCIAL CODE · Chapter 2A. · Article 2A. LEASES · Part 4. PERFORMANCE OF LEASE CONTRACT: REPUDIATED, SUBSTITUTED AND EXCUSED
11-2A-404. Substituted performance.
Current through: Including Acts of the 2025 Regular Session of the General Assembly.
- (1)
If without fault of the lessee, the lessor and the supplier, the agreed berthing, loading, or unloading facilities fail or the agreed type of carrier becomes unavailable or the agreed manner of delivery otherwise becomes commercially impracticable, but a commercially reasonable substitute is available, the substitute performance must be tendered and accepted.#
- (2)
If the agreed means or manner of payment fails because of domestic or foreign governmental regulation:#
- (a)
The lessor may withhold or stop delivery or cause the supplier to withhold or stop delivery unless the lessee provides a means or manner of payment that is commercially a substantial equivalent; and#
- (b)
If delivery has already been taken, payment by the means or in the manner provided by the regulation discharges the lessee’s obligation unless the regulation is discriminatory, oppressive, or predatory.#
History
Code 1981, § 11-2A-404, enacted by Ga. L. 1993, p. 633, § 1.
Read the official page (the state's PDF, opened at the page this text was read from).
Current through: Including Acts of the 2025 Regular Session of the General Assembly.
Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, pages 303 to 304; merge action: carried; file SHA-256 ad397fccbf21.